Fresh reaction given to Mike Ashley, Sheffield Wednesday takeover update - 'vulture' claim made | OneFootball

FLW's Sheffield Wednesday fan pundit has given his reaction to reports that Mike Ashley is hoping for the club's other bids to fail.

This article is part of Football League World's 'Terrace Talk' series, which provides personal opinions from our FLW Fan Pundits regarding the latest breaking news, teams, players, managers, potential signings and more...

Former Newcastle United owner Mike Ashley is one of those still in contention to complete a takeover of Sheffield Wednesday.

Wednesday have been on the market since former owner Dejphon Chansiri put the club and the company through which he owned the stadium into administration in October, bringing his chaotic decade-long tenure at Hillsborough to an end.

The Owls' administrators were initially hoping to name a preferred bidder by 5th December, but while the process has been delayed in recent weeks, it is now believed to be moving towards the final stages, with all parties set to submit their best and final offers by Wednesday evening.

Despite having his first offer of £20 million rejected last month, it was reported last week that Ashley is one of the three parties still in the frame to buy Wednesday, along with US billionaire John McEvoy and the Storch family, who have joined forces in an attempt to win the race for the club, and a group involving former Sheffield United consultant James Bord.

However, Ashley is the only one of those parties who has not met the administrator's reserve price of £30 million, which includes £27 million to cover the club's debts, such as the £15 million owed to Chansiri, and around £3 million for the costs built up during the administration period.

In a new update, Ashley is believed to be hoping that the alternative bids from McEvoy/Storch and Bord fail, which would leave him as the administrator's only option, and with a preferred bidder expected to be chosen in the not-too-distant future, he may not have to wait too long to find out if his strategy has been successful.

Sheffield Wednesday fears raised over Mike Ashley after latest takeover update

When asked for his thoughts on Ashley's reported stance, FLW's Sheffield Wednesday fan pundit Patrick McKenna admitted that he fears the 61-year-old is simply waiting to get the club on the cheap, and he insisted that the ex-Newcastle chief would not be the right man to take the Owls forward.

"All I can say is that it does not surprise me, and it really shows his intentions for the club," Patrick told FLW.

"I have stated that the sort of thing that would worry me is that he is only really here as a vulture looking to get us on the cheap.

"It's just not what we need because, instead of looking to buy us and be the man who changes the club and drives us forward, he clearly wants to pick us up for as cheap as possible.

"Despite being a billionaire, he's not willing to meet the £30 million, and he's clearly happy to take a 15-point penalty.

"If someone is willing to take a 15-point penalty, they are not the sort of person I want getting the club.

"Next season is meant to be a new start for the club, but where will the positivity be if we are fighting back from -15?

"It shows that Mike Ashley is just looking to come in, pick us up on the cheap and use us for his own means, which is not the sort of thing we need."

Mike Ashley is taking big Sheffield Wednesday gamble as takeover approach revealed

Having enjoyed a successful career in the business world that has seen him build up a net worth of $5.5 billion (£4.1 billion), Ashley will know what it takes to get a deal over the line, so there may be a reason why he is waiting for the competing bids for Wednesday to fail, rather than making a higher offer of his own.

However, Ashley's reluctance to put money on the table could see him miss out on the club, and it will inevitably lead to accusations from supporters that he is looking to take advantage of the Owls' predicament and secure a cheap deal, as well as raising question marks over his level of ambition.

Ashley may not be the most exciting option for Wednesday, but he would certainly help to put the club back on a solid financial footing, and the fact that he still remains firmly in the takeover process, despite not yet meeting the £30 million valuation, suggests that he is a serious contender.